St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1887-12-07
THE COMMERCIAL RECORD.
On the Chicago Board of Trade Yester.
terday There Was Quite
Break in Prices.
The Cause Of the Collapse Attributed
to Very Heavy Selling By
Dealers.
Transactions in the Financial Circles
of Wall Street.-The General
Quotations.
Special to the Globe.


CHICAGO. Dec 6.-Public cables quoted
spot wheat dull and I2d lower in Liverpool
this morning. The bull spirit in this and
other American markets is still powerful
The country is still buying, and new delega-
tons from the hoop pole townships are
arriving by every train. Wheat opened at
TS7sc for January and Soisc for May The
latt er month went to S5s4c. at which point q
reaction set in that by 1890 O'Clock carried
January TO 7S$sc and May to S5c. New York
and st. Louis were draggy in temper, aud the
boom acted somewhat groggy. With multi
tude of stop-loss orders for country account
staring them in the face cent or two from
the market, commission men confess TO
feeling nervous. There was considerable
realizing for local and outside account early,
and the disposition TO unload seems
TO be deepening. Corn was the
gamiest article on the list.
May opened at $3.50, went to 56isc. and
broke off again to 55ssc-all within an hour.
Bloom went into the pit 10 protect the mar
ket when the prices struck SOC on the back
track. but Kammerer plugged him with one
lot of 800 600 bu at 56c and another of 250,-
900 bu at $3.50, and pIuRging Leopold with
drew discounted. January pork advanced
from S14S0 to SI5.02Is. and May from
ceding later in sympathy with corn. For the
first hour January lard ranged S7.42l267. 80;
May lard, s.. S5@z 90: March ribs, S7.S00
7.65. Trade in May pork was particularly
lively. Realizing on an enormous scale i'll
everything produced general weakness and
caused sharp decline in grain and proTiS-
ions that did not stop with the quotations
given above. The market kept On going
down till January corn touched 1890; May
corn, 54Ssc; January wheat, 1Tl2c; May
wheat S41sc; May pork, Sl5.35; May lard,
$50; and January ribs. $40. As COM
pared with yesterdays best prices for grain
this is break of 2s4c in wheat and 2l4c in
corn. From the lowest range of depression
the market recovered fIactionally,
but the rampant bullishness that
has governed operations of late has given
place to quite a different feeling.
Provisions sympaihized to a considerable ex
tent with grain. Hogs were lower and weak.
Receipts are liberal and to-morrows esti-
males are for 80, 600 head. There at last ap-
pears product enough TO go round. The ice
on the provision pit is very Thin remarked
an old observer this afternoon. As compared
with Yesterday closing the o'clock ranges
show a net shrinkoge of il2@l5sc in wheat
1c in corn, I2c in oats. 200 22l2c in pork and
1OG III IlDS anu NJ tlIG dAttIHOOH ScS-
sion the spirit of realizing prevailed and
prices declined [ n liberal selling Wheat was
quite firm for near futures, but 3sc off for
May. Corn declined Ss@94c; oats, Ice; pork
17l2@2oc; lard, 1od l2L2c; short ribs, so
7IAc. 2:3O p. m. prices-Wheat December,
1850: January, 773sc; February 7Sc; May,
S4is@S44c. Corn, December, 1850; Janu-
airy, 49c: February, 4914c; May, 537s6l54.
Oats, January and February, soc; MAY,
33Isc Pork. January, SLATE; February,
SI462I2; May, $3.50. Lard, S7.17Is; Jan
uary, S7.25: February, S7.35@7 .37l2;
March. S7.45; May, S7.65@Z.67L2. Short
ribs, January SID: February, S7.57I2;
March, S767l2; MAY, S7.95.
THE ROUTINE REPORT.
CHICAGO. Dec. 6.-There was a break in
prices on the board of trade to-day. 1t
started about 10 O'Clock. May corn, which
had sold up to 56I2c, dropped to 54ssc; May
wheat, which touched high at S5s4c- dropped
to S2Isc and May pork. which sold up to
$15.70, went back to S15.57I2, all before
1880. 1t was attributed TO the heavy selling
of yesterday. May wheat did not go below
S4lac, and the reaction from the break car
ried il back to 85c. 1t was found that there
were good many buying orders around this
figure and il held pretty close to S5c for
some time. Trading was rather cautious
after the break, and the aggregate from
1870 to the close of the session was not as
large as for the first hour; At
1880 May was steady at S434c.
Corn sales were very few al 54I2c for May,
and this proved to be its bottom price. There
was enough demand for the stuff at 55c to
keep ii pretty close around that figure for
practically the balance of the session. Pro-
visions furnished a very uncertain field for
the Spectator. May pork went down to
Sl5.35 before the break was checked. From
this figure it advanced 10 $3.50. and at
1870 was back to S15.47la. The January
oil thuc oY,A
the same was true of lard and ribs. AT the
close prices were: MAY wheat S4IS0S4A
May corn, 537sc: May oats 33Isc asked;
January pork, SI4.47Ia: January lard, s.. IS;
January short ribs. S1.45.
THE QUOTATIONS.
The leading futures ranged as follows:
Wheat-No. 2. December, opening at 7SIsc,
closing at 1850; January, opening at 1850.
closing at 77S8c; February, opening at 1850,
closing at Use: May, opening at 95l2c, clos
ing at S412c. Corn-No. ., December, open
ing at 50ssc, closing at 4s7sc: January, open
ing at 5OI2c. closing at 49c; February,
opening at sic; closing at 494c; May.
opening at 55ssc, closing at 537sc.
closing at soc; February, opening at
zoe. closing at soc; May, opening at $3.50,
closing at 331sc. Mess Pork, per Dbl
January, opening at S1445, closing at
S1467l2; May, opening at Si5.45. closing at
Sl5.10 Lard, per 100 lbs-December,
opening at S7.3212; closing at SITE;
January. opening at S7.4212, closing
closing at ST.35; May, opening at S7.S5,
closing at S7.65. Short Ribs, per 100 lbs
january, opening at S7.57I2, closing at 81 As;
February, opening at s.. 67l2, closing 7.57l2;
March, opening at $50, closing at S7.67I2;
May, opening at S7.95, closing at S7.S5.
Cash quotations were as follows: Fior-.
steady and nOmInally unchanged. Wheat
No. 2 spring, 1850 167sc; No. 8 spring.
67lac; No. red, 7754c. Corn-No. 3, 1910
49ssc, Oats-No. 3 Sic. Rye-NO. 2 59L2c.
Barley-No. ., 75c. Flax seed-No. 1, 81. p.
Timothy seed-Prime, 81. 1922. 50. Mess
pork, per Dbl. S14- 25@14.60: Lard, per 100
lbs, S7.30@7. 1919. Short rib sides QooSel,
S7.4507. so: dry sailed shoulders (boxed),
$4,000; short clear sides (boxed), SS.o5
OSLO. Whisky-Distillers' finished goods
per gallon, S1.10. Sugars-Cut loaf, 714@
7s4e; granulated, 7Isc; standard "A
sac. Receipts-Fleur. "a 600 bbls; wheat
$4,000 bu; corn, 10000 bu; oats, Ill
600 bu; rye, 5000 bu; barley, Il, 900 bu
Shipments-FIour, IS 600 bbls; wheat, 90
600 bu; corn, $4,000 bu; oats, 5000 bu;
rye, 500 bu; barley, $4,000 blu. On the
produce exchange to-day the butter market
was quiet but firm: fancy creamery, 290
Sic: fancy dairy, 25@ 26c. Eggs, 2lls@23c
r. M. NEWPORT & SON,